Sheaff Brock Investment Advisors LLC Sells 1,025 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sheaff Brock Investment Advisors LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 28.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,636 shares of the company’s stock after selling 1,025 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in GE HealthCare Technologies were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Galvin Gaustad & Stein LLC lifted its stake in GE HealthCare Technologies by 6.2% during the first quarter. Galvin Gaustad & Stein LLC now owns 165,788 shares of the company’s stock worth $13,381,000 after purchasing an additional 9,665 shares during the period. TCW Group Inc. grew its stake in shares of GE HealthCare Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 674,367 shares of the company’s stock valued at $54,428,000 after purchasing an additional 85,247 shares during the last quarter. LPL Financial LLC grew its stake in shares of GE HealthCare Technologies by 3.1% during the first quarter. LPL Financial LLC now owns 458,453 shares of the company’s stock valued at $37,002,000 after purchasing an additional 13,886 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of GE HealthCare Technologies by 3.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,361 shares of the company’s stock valued at $13,992,000 after purchasing an additional 6,271 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in GE HealthCare Technologies by 2.8% in the first quarter. Empirical Finance LLC now owns 13,751 shares of the company’s stock valued at $1,110,000 after buying an additional 378 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Down 0.0%

Shares of GE HealthCare Technologies stock opened at $77.72 on Wednesday. The firm has a market capitalization of $35.59 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $73.50 and its 200 day moving average is $76.92. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm posted $0.90 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies’s payout ratio is 2.95%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GEHC shares. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Citigroup increased their target price on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.55.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.